Arbitron to cut 10% of jobs, take charge; affirms estimates

RobertDaniel

TEL AVIV (MarketWatch) -- Arbitron Inc.,
ARB, -10.00%
the Columbia, Md., media- and marketing-research firm, said late on Tuesday that as part of a companywide cost-cutting plan, it would pare 10% of its full-time jobs. The company expects a first-quarter charge of $8 million to $9 million for severance and benefits. The move, to be completed in the first quarter, should save $10 million a year beginning in 2010, Arbitron said. And the savings in 2009 should offset the first-quarter charge, the company said. Meantime, the company affirmed its earnings estimates for 2009. Arbitron expects to earn $1.40 to $1.55 a share, up 3% to 14% from $1.36 in 2008. Revenue should rise 6% to 10% from 2008's $368.8 million.

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